Out of Bakersfield, CA an eyewitness news team did an investigative report on the cash for gold market and some of the findings are shocking. The team took a gold ring and had it weighed, tested, and appraised by a trusted jeweler. The team then took the ring to several cash for gold businesses. The investigative team ran into dishonest cash for gold business practices including weighing the ring out of sight from the customer, refusing to tell the customer what they had weighed the ring at, telling the customer that the ring weighed less than it actually did, and being offered low-ball prices. The bottom line from the investigative report to consumers was to shop around when selling their gold jewelry and to use common sense.
The Gold Standard wants you to know that we are proud members of the Jeweler’s Vigilance Committee, use only State of New York certified and calibrated scales, and all of your gold jewelry is weighed and tested right in front of you. We also have a 110% Price Guarantee meaning we will pay the highest prices for your gold than any other company in New York. If you find a higher payout we will match that price and pay you an additional 10% of the difference! Contact us today to turn your gold into cash.
Tags: cash for gold scams, gold testing, high gold payouts, Selling Gold
While the gold business is good, there is a misconception that the recession has seen desperate people beat a path to his door. Something should be done about this frauds.
The gold business process is legal, but morality is another issue? However, unfortunately, anything that relies on ‘greed’, or ‘financial necessity’, is bound to cost the general public in the long run. Government should regulate the gold industry and protect the Consumers!!
The poor value for money that these cashforgold are providing is simply shocking. The cash for gold market is unregulated, and this has raised some concerns in the hearts of customers.
The bitter truth is some of this unworthy buyers spoil the image of good gold appraisers. The government should do something about theses scams.
I like the full time comfortability you give to your customers, it shows high professionalism.
We need more trustworthy companies like this in the gold business as many are tired of being ripped off.
I think it is fair to say when you start seeing these companies targeting the over 50s you know they have little or no morals.
People have been ripped off by jewelers for years. Jewelers can charge 3 times what the item is worth.